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TIBCO To Provide Enterprise Backbone For Electronic Exchange At Philadelphia Board Of Trade
Philadelphia Board of Trade Relies on TIBCO to Enable New System for Futures Trading
PALO ALTO, Calif., June 22, 2005 - TIBCO Software Inc. (NASDAQ: TIBX), a leading business integration and process management software company that enables real-time business, today announced that the Philadelphia Board of Trade (PBOT), a subsidiary of the Philadelphia Stock Exchange (PHLX), has selected TIBCO®'s enterprise backbone technology to support deployment of the new PBOT XL electronic futures trading platform. The TIBCO implementation will provide the messaging technology required to move order and trade executions between internal systems at PBOT for futures trading.
By implementing PBOT XL, the fully electronic trade execution platform, PBOT's market participants will benefit from better connectivity and superior execution speed. The TIBCO implementation, scheduled to go live in late 2005 or early 2006, provides the enterprise backbone used to connect internal components of the PBOT XL platform. The resilient architecture will provide reliable delivery of critical market information with the high performance and availability necessary for real-time financial transactions on a global scale.
"PHLX places high value on the technology it utilizes for its trading systems infrastructure," said Tom Wittman, senior vice president of Trading Systems at the PHLX and CIO of PBOT. "As an advanced electronic market place that emphasizes speed of execution along with system reliability, we have very high standards," Wittman continued. "TIBCO's products have a proven track record on our PHLX XL options trading platform. So much so, we selected the company once again when evaluating vendors for PBOT as an electronic exchange. TIBCO is enabling us to re-launch our services with the highest throughput and most reliability possible right from the start."
"The PHLX is widely viewed as a trusted, innovative player within the capital markets sector. We're confident the new PBOT electronic exchange will expand that reputation throughout the global marketplace," said Murat Sönmez, executive vice president, TIBCO Software Inc. "TIBCO is committed to making the transition for PBOT to an electronic exchange a smooth as possible by providing the high performance and availability required to process financial transactions in real-time."
The Philadelphia Stock Exchange, founded in 1790, trades 2,000 stocks, 1,713 equity options, 22 sectors index options and currency options and futures. The majority of all buy and sell orders routed to the exchange are electronically filled. For more information about the PHLX and its products, visit www.phlx.com.
About TIBCO Software
TIBCO Software Inc. (NASDAQ:TIBX) is a leading business integration and process management software company that enables real-time business. Real-Time Business is about helping companies become more cost-effective, more agile and more efficient. TIBCO has delivered the value of Real-Time Business, what TIBCO calls The Power of Now®, to over 2,000 customers around the world and in a wide variety of industries. For more information on TIBCO's proven enterprise backbone, business integration, business process management, and business optimization solutions, TIBCO can be reached at +1 650-846-1000 or on the Web at www.tibco.com. TIBCO is headquartered in Palo Alto, CA.
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TIBCO, the TIBCO logo, Predictive Business, The Power of Now, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
